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In Fear the Boom and Bust, John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on the economic crisis. Before the conference begins, and at the insistence of Lord Keynes, they go out for a night on the town and sing about why there's a "boom and bust" cycle in modern economies and good reason to fear it.

Get the full lyrics, story and free download of the song in high quality MP3 and AAC files at:

"Fight of the Century" is the new economics hip-hop music video by John Papola and Russ Roberts at http://EconStories.tv .

According to the National Bureau of Economic Research, the Great Recession ended almost two years ago, in the summer of 2009. Yet we're all uneasy. Job growth has been disappointing. The recovery seems fragile. Where should we head from here? Is that question even meaningful? Can the government steer the economy or have past attempts helped create the mess we're still in?

In "Fight of the Century", Keynes and Hayek weigh in on these central questions. Do we need more government spending or less? What's the evidence that government spending promotes prosperity in troubled times? Can war or natural disasters paradoxically be good for an economy in a slump? Should more spending come from the top down or from the bottom up? What are the ultimate sources of prosperity?

Keynes and Hayek never agreed on the answers to these questions and they still don't. Let's listen to the greats. See Keynes and Hayek throwing down in "Fight of the Century"!

In the 1930s, John Maynard Keynes, the most influential economist of the last century, and future Nobel laureate Friedrich Hayek engaged in a legendary battle of ideas about the role of the government in ending and causing economic downturns.

Last year, George Mason University economist Russ Roberts and director-producer John Papola retold that debate in the form of a rap video, "Fear the Boom and Bust," in which Hayek and Keynes fight it out over the causes of the Great Recession.

In a new video, the battle continues: Should government juice spending via massive stimulus or "do nothing" once a recession is underway? And did World War II end the Great Depression? Whatever side you take, the video, which pulled over 500,000 views in its first week, is sure to entertain and edify.

Reason.tv's Nick Gillespie sat down with Roberts to discuss the ideas behind the latest Keynes-Hayek throwdown, and what his hopes are for the project.

Approximately 7 minutes.

Edited by Jim Epstein; Shot by Epstein and Joshua Swain.

Go to http://reason.tv for downloadable versions, and subscribe to Reason.tv's YouTube channel to receive automatic notifications when new material goes live.
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Dec. 21, 2010 - GMU economics professor, Russ Roberts, and filmmaker, John Papola, join Judge Andrew Napolitano on Freedom Watch to discuss the creation of their viral video sensation, the Hayek vs Keynes dichotomy, and the role of savings on the road to prosperity.

On October 25th, an audience of financial managers and CEOs, politicians, central bankers and nobel prize winning economists at The Economist Magazine's Buttonwood Gathering were treated to an unusual experience: a live rap battle between John Maynard Keynes and F. A. Hayek.

Following a presentation by Nassim Taleb, the lights went down in the auditorium and Fear the Boom and Bust blasted onto the screen. This video picks up at the end of that special presentation, where Keynes and Hayek stepped onto the stage to give a preview of the next EconStories music video.

In the final new video, which will be completed in the months ahead, expect many more lyrics and an all new beat.

Lastly, Russ Roberts and John Papola took the stage with John Micklethwait, editor-in-chief of The Economist for a brief Q&A about the origins of FTBB and the resurgence of Hayek in the global debate over the economy.

Uploaded by samadamsalliance on May 10, 2010
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Guy Benson presents--and John Papola accepts--the Video Award at the 3rd Annual Sammies.
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John Papola of Verona, N.J. and Russ Roberts of Potomac, Md. won the $3,000 Video Award for their video Fear the Boom and Bust, which boils down the complex economic theories of John Maynard Keynes and F. A. Hayek into a highly entertaining 5 minute, 26 second rap anthem. With over one million YouTube views, the video has been translated into a dozen languages and won praise from PBS, NPR, CNBC, the Chicago Tribune and New York Times, among others.
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The 3rd Annual Sammies took place on Friday, April 16, 2010, at the Chicago Cultural Center. Sponsored by Sam Adams Alliance, the Sammies recognize exceptional citizen leaders working for a freer society. For more information, visit http://www.samadamsalliance.orgCategory: